Midwest Gasoline to Spike $0.50-$1.00 Per gallon

[5030]

I suspect that the automakers will also become way more automated, once this looming strike is settled.. I know Kuka is in Toledo Jeep's building and Kuka is a leading builder of automation equipment. Thursday is 'D' day at midnight.

 

[5030]

You are overlooking the fact that the US is basically at full employment (economists say 3% unemployment is full employment).

It is? Could have fooled me. Lots of help wanted signs around here, everywhere. I get asked if I want a driving job all the time... I don't.

Like I said, problem is, those jobs don't pay a living wage.

 

[Snobdds]

You are overlooking the fact that the US is basically at full employment (economists say 3% unemployment is full employment). This is largely due to the retirement of boomers and a smaller workforce of young people. Just about every business is recruiting employees now. Employers are competing for employees and that drives up wages.

How can you have full employment when the labor participation rate is still well below where we were before COVID? Even with boomers dropping out, the participation rate is historically low. How does that square with your claim of full employment?

 

[ArlyA]

How can you have full employment when the labor participation rate is still well below where we were before COVID? Even with boomers dropping out, the participation rate is historically low. How does that square with your claim of full employment?

Because some people left the labor market and NOT coming back. They retired, spouse got a raise etc etc.

 

[Snobdds]

Because some people left the labor market and NOT coming back. They retired, spouse got a raise etc etc.

This theory assumes no new entrants to the labor market. Only old's dropping off...

Is that plausible? If not, which it isn't, why does the labor market continue to decline?

Also, the millennial generation is bigger than the baby boomer generation and the millennial's are of full working age now. Just to help focus your response.

 

[ArlyA]

This theory assumes no new entrants to the labor market. Only old's dropping off...

Is that plausible? If not, which it isn't, why does the labor market continue to decline?

Also, the millennial generation is bigger than the baby boomer generation and the millennial's are of full working age now. Just to help focus your response.

I never said "old's dropping off" and did say folks who were working decided to not return to work for whatever reason..

 

[Torvy]

I never said "old's dropping off" and did say folks who were working decided to not return to work for whatever reason..

Some of it was that. A larger portion is people who live in states and localities that paid and yes, some are still paying, people to not work. The scam gave a bunch of people time to figure out how to get assistance without working. That artificially makes the unemployment numbers look good. You see, the official unemployment numbers do not count people who are not actively looking or who are working part-time.

I am 100% behind assisting those who cannot work.

 

[jyoutz]

How can you have full employment when the labor participation rate is still well below where we were before COVID? Even with boomers dropping out, the participation rate is historically low. How does that square with your claim of full employment?

The unemployment rate is a different measure than participation rate. Unemployment measures people who are seeking work but unemployed. Participation rate is entirely different. It is just a measure of the working age people without a job. Many in this category aren’t seeking work (working spouse), students, gig jobs, etc…. My son is a PhD student and not seeking work at this time. He’s listed as not participating. The only meaningful metric is the unemployment rate.

 

[jyoutz]

Some of it was that. A larger portion is people who live in states and localities that paid and yes, some are still paying, people to not work. The scam gave a bunch of people time to figure out how to get assistance without working. That artificially makes the unemployment numbers look good. You see, the official unemployment numbers do not count people who are not actively looking or who are working part-time.

I am 100% behind assisting those who cannot work.

That’s kind of a tired talking point. The COVID payments ended a long time ago and unemployment is a limited term. Please explain what you’re referring to.

 

[Torvy]

The only meaningful metric is the unemployment rate.

100% wrong. The better measure is participation rate. Unemployment rate hides too many things.